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Children are not the only ones whose eyes light up when a model rocket blasts into the air. In fact, I'm pretty sure many adults would also be delighted at the sight, particularly with the variety of the options available for rockets today.
Gary Rosenfield has been in the rocket business for many years. In 1982, he started a company designed to develop, manufacture and market specialized composite propellant hobby rocket motors. By 1988, his company, AeroTech, had established itself as the largest supplier of technologically advanced rocket motors for the hobby market. The company advanced the industry once again in 1990, when it introduced the first reloadable rocket motors, which were an instant success.
Today, the reloadable motors remain one of the Cedar City company's flagship products. AeroTech Consumer Aerospace, as it's now called, also provides many other rocket-building components and kits. Hobbyists are the primary customers, but it also serves commercial, industrial and military clientele.
Gary, the company president, says the hobby business is fairly responsive to trends, so he's constantly trying to balance traditional products with new items so dealers aren't flooded with inventory. Some of the most popular products now are propellants that produce different visual effects, such as white or green flames or different types of smoke or motors that emit a shower of sparks as the rocket takes off.
Some of the biggest challenges for AeroTech have been stricter government regulations on the product and simply keeping up with hobbyists' constant thirst for new and innovative products. But Gary's Cedar City company continues to succeed and gain acclaim for its reusable motors and reload kits. AeroTech Consumer Aerospace holds the majority of the market share and, accordingly, its products are the most widely available.
For Zions Bank, I'm Rob Brough. I'm speaking on business.
